Guest Article

Following a keynote speech on creating a unique customer experience, I was approached by a guest who asked “How do you do it?”

As I started re-summarizing my speech she interrupted and said, “No, no, no – How do you balance your work and home life? You seem like you have it so together!!

I have been asked that question endless times and as my career advanced to the corner office – men and women – became even more inquisitive.

The truth is – my answer has always been the same: there is no such thing as “balance”.  Life is not a zero sum game or an equation that needs to be solved. You do not have to choose between being a great wife and mother and being a career woman. The answers that you are looking for are not in some magic checklist, but rather within yourself, if you will just take the time to look for them. But you also must have the confidence to reach for them and believe they’ll be there.

In the last few weeks this subject is being talked about in every office, home, blog and media outlet.  Sheryl Sandberg, the COO of Facebook, has taken the conversation to a whole new level and kudos to her!  She is encouraging women to participate, raise their hand and “lean in”.  I know many women who do just that – but they still go home at night and grade themselves a “C” for their performance at work and home.  Erin Callen, the former CFO of Lehman Brothers, in her New York Times article, shared her heartfelt story of how she “leaned in” too much and forgot who she was.

Neither answered the question “How can I have success at work and home?” I couldn’t take the mother out of the career or the career out of the mother and I don’t think you should either.  You can use both to your advantage.

Searching for the mythical “balance” leads to frustration, guilt and disappointment – causing career women to step back or step out of their company.  At one point I believed that I could not go on anymore, my career was demanding and my two boys needed me, I must choose one or the other. I loved my work, my husband and my children and I could not find peace with it all.

What I needed was one life and one calendar!  So, that is what I did. I integrated, instead of bifurcated.  I took my home skills to the office and I took my office skills home.   Yes, I took my boys to the office on Sunday morning when nobody was there and yes, I sometimes had strategy meetings in my house.

You really can’t have success in one area of your life without having success in the others. Above all, make your home life a priority. If your personal life is a mess, you’ll never be your best at work.

Stop striving for “balance” and live!  It is ok if the kids order out pizza once a week and you send store-bought cupcakes to the school event. You can also turn off the I-Phone for an hour, work will still be there.

Teresa Taylor is the former COO of Qwest Communications and author of a new book The Balance Myth – Rethinking Work-Life Success.  To learn more visit: http://www.teresataylor.org

Life Balance Signpost courtesy of Stuart Miles / www.freedigitalphotos.net

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET. This is excerpted from my recent interview with Muthoni Maingi, @NonieMG.  Muthoni started Deviate, her own Brand Strategy and Management agency at 24, after working for five years in TV, entertainment & other design and brand agencies. Since then, she has also recently launched her clothing and is determined to place her country & continent on the global business map. She is also an internet technology enthusiast & foodie. Muthoni has been featured in numerous publications such as CIO Kenya, Standard Newspaper and Afroelle in the capacity of a business leader to look out for. She has also given a talk at the United States International University. For more, visit: http://deviate.co.ke/

SmallBizLady: What do you think of the African business landscape right now and what are your thoughts on its future?

Muthoni Maingi: I believe that we should look at African countries individually, as opposed to grouping them all together. For example, in terms of infrastructure, many African countries are not the same. However, as far as the entire continent is concerned, I believe that there is a lot of room for improvement, although this is already underway in many African states.

SmallBizLady:  What areas of improvement do you see on the continent and where is more work needed?

Muthoni Maingi: I think that a lot has improved in terms of legislation and infrastructure. Take for example Kenya, which has seen massive change in terms of communication infrastructure and which is reaping the rewards of this through ICT innovations and entrepreneurship. However, there are areas where this can be improved with more government involvement to reduce the digital divide and the implementation of a broadband policy.

SmallBizLady:  Have any of these changes helped women, specifically young women to set up & run businesses?

Muthoni Maingi: Yes, the improvements in the technological and legislative landscape for example really assisted me by the time I started my own business.  I relied on Google Sites for a website as I could not afford one at the time. I also purchased a mobile phone that had a number similar to that of a land-line. In Kenya, many do not take you seriously as a company if you don’t have a land-line. As for legislative changes, when my mother was my age she would not have been allowed to open a bank account without her husband’s or father’s permission. By the time I was starting Deviate, this law had changed.

SmallBizLady:  What more do you think could be done to encourage young women to start their own businesses?

Muthoni Maingi: I believe that young women need training in soft skills as with regards to business. I find that in many situations men are still overwhelmingly better negotiators and are more assertive with what they need. I also think that there should be a stronger mentorship network, an informal one similar to ‘old boy’ networks where young women can interact with older and more experienced female entrepreneurs.

SmallBizLady: What challenges do you face as a young business owner?

Muthoni Maingi: I think one of the biggest challenges I face is the idea that Gen Y’s are fickle with commitment, easily bored and entitled. This perception, in the initial stages of my business was quite challenging to over-ride as I often pitch to people from an older age group.

SmallBizLady: What did you do to prove that you were different?

Muthoni Maingi: I had to demonstrate a willingness to stick to my word and my business. As my company portfolio grew, people began to take me more seriously. I also have to admit that I did change my lifestyle, avoiding too many club scenes and parties. However, this did not reduce my quality of life, as a business has a way of enriching it even more as time goes by.

SmallBizLady: Do any clients approach you specifically because you are young?

Muthoni Maingi: None have openly said this to me, but I think that as I now have a working portfolio some may feel I bring a youthful/fresh energy and dynamic to a project.

SmallBizLady: How did you overcome the various business and personal challenges that have come with running your small business?

Muthoni Maingi: I have come close to giving up on this lifestyle that I chose and love so many times! At some point it begins to feel like a typical relationship with its ups and downs. But just like a relationship, if the partner you have is great and you put work and dedication into it, it eventually works out and becomes stronger.

I’ve also had to learn to be my biggest cheerleader and also to forgive myself and allow an attitude of constant learning as opposed to being overly critical of myself if something goes wrong and feeling like I ‘know it all’ at the same time when it goes right.

SmallBizLady: How can one better anticipate business challenges and brace themselves in a smart way?

Muthoni Maingi: Save. Save. And Save Some More. It’s shocking how much money is sometimes needed to push you through a rough business patch, especially if you have rent, salaries and all manner of bills to pay.

Also cultivate relationships with your clientele – the good kind, where you can anticipate solutions to their problems and bill them for that. Repeat business makes for good profits as well as cross selling. Nurture this ability in yourself.

SmallBizLady: What tools can business owners use to cultivate relationships and expand their brand footprint?

Muthoni Maingi: Blogging, newsletters and social media are amazing tools if used correctly to allow people to see your spirit, passion and some of your expertise.

SmallBizLady: How did you determine your target audience and how do you reach them?

Muthoni Maingi: I always knew I wanted to start and run my own agency. After working at two and observing others, I realized they were not set up to assist growing business and SMEs in their brand journey. Instead they focused on landing business from larger clients. I started Deviate to specifically target growing businesses and SMEs. Initially I relied on the contacts I had made while working to get clients, but as the company’s reputation grew, business increasingly started coming in from referrals. Currently, I keep the company news fresh by updating my networks with newsletters and tweets.

SmallBizLady: What business goal have you set for yourself this year?

Muthoni Maingi:  I intend on making profits for Deviate. At least 30% increase by the end of the year. As of the end of 2012 the company had only broken even and I am determined to push it forward.

If you found this interview helpful, join us on Wednesdays 8-9 pm ET; follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is America’s #1 small business expert. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing to fulfill her mission to end small business failure. She writes a weekly column on social media for The New York Times. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works and the ebook: How To Become A Social Media Ninja; 101 Ways to Dominate Your Competition Online.

 (Philadelphia, PA—Oct. 10, 2012) National Small Business Expert, Melinda F. Emerson, known online as SmallBizLady, proudly announces the launch of The Melinda F. Emerson Foundation for Small Business Success (www.melindafemersonfoundation.org).

Melinda believes that through technical support and education, small business owners can overcome the challenges they face and play an important role in building the U.S. economy. The Melinda F. Emerson Foundation is dedicated to igniting a movement to end small business failure.

This foundation is being established to enable more people to fulfill their entrepreneurial dreams, by providing free tools, educational materials and executive education opportunities for minority and women-owned businesses.

The foundation will support entrepreneurship educators, host mentorship events and provide resources for existing small business owners to upgrade their management and leadership skills.

“I really wanted to create a way to affect more small business owners,” says Emerson.  She adds, “This foundation will stand in the gap for minority and women owned business owners and provide access to executive education courses like the ones that helped me learn how to be a better business owner.”

Emerson, turning 40 this month, wanted to party with a purpose and will kick-off the foundation’s activities with a star-studded fundraiser at the Loews Hotel Philadelphia on October 13^th for her birthday.  Instead of gifts, guests were asked to contribute at least $50 to the Melinda F. Emerson Foundation. Contributions have exceeded expectations.

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About the Foundation:  The Melinda F. Emerson Foundation for Small Business Success (www.melindafemersonfoundation.org), was founded in 2012 in response to Melinda Emerson’s mentoring needs of small business owners across the country.

About Melinda F. Emerson:  Known as SmallBizLady, Melinda F. Emerson is America’s #1 small business expert. She is an author, speaker and small business coach whose areas of expertise include small business start-up, business development and social media marketing. As CEO of Quintessence Multimedia, Melinda develops audio, video and written content to help her Fortune 500 clients engage small business customers.  She is a weekly columnist for the You’re The Boss blog for the New York Times.  She publishes a resource blog, which is syndicated by the Huffington Post, entitled succeedasyourownboss.com and hosts a weekly talk show on Twitter called #SmallBizChat for today’s entrepreneurs.  She reaches 1.5 million small business owners weekly on the internet. Forbes Magazine named Melinda Emerson #1 Woman for Entrepreneurs to follow on Twitter. She is also the author of the bestselling book “Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.”

More than 10 million women own businesses in the U.S. today. In fact, the ratio of women to men starting small businesses is 2-to-1. According to the Center for Women’s Business Research, the fastest-growing segment of women business owners is baby-boomer women 50 and older. Yet too many women business owners are broke. And it’s all because of how we “do” business.

So why are so many women business owners broke?

1. Charging too little.  Women need to stand up and demand their worth. Too often, a chronic lack of confidence holds us back. Many women fear they’ll lose their values or become someone they don’t care for if they have more money. Ladies, snap out of it! When someone asks your fee; make eye contact, say the price and wait for an answer. If you get a reaction that your fee is too high, you know you’re not speaking with your ideal customer. Set your pricing so that you earn a profit, otherwise you could find yourself with an expensive hobby and not a real business.

2. Emotional decision-making.  As women, we sometimes take things personally that we shouldn’t. It’s just business. Neither your customers nor your employees should know your personal feelings. Use data to make critical business decisions. Focus on what’s in the best interest of your business. I’m not a big fan of women “acting like men,” but in the case of decision-making, it’s appropriate. Don’t complicate your business with a bunch of personal relationships, either. I believe you should never hire someone you can’t fire, so avoid hiring friends and family.

3. A noncompetitive attitude.  Profit is how we keep score in business. However, we are now in a value-added economy, where people often over-deliver on service to attract and keep customers. This is a good strategy, but everything has limits. If you give everything away, there’s nothing left to take home. Go after business competitively. And never hesitate to make collection calls for payment. Do not finance your customers.

4. Not asking for the business.  Generally, women excel at communicating and building relationships. But sometimes we spend so much time doing so that we forget to directly ask for the business. We’ll go to a capabilities presentation and not close with follow-up steps. Customers have no problem wasting your time. People will never hesitate to ask to pick your brain. Always be willing to schedule a 30-minute call or coffee appointment, but do not solve the customer’s problem during the meeting. Ask clarifying questions, validate that you’re more than qualified to solve their problem, and let them know how much it costs to work with you. You should close by asking them, “When do you want to get started?”

5. Superwoman syndrome.  Superwoman can do anything. She can leap a tall building in a single bound, have dinner on the table by 6 p.m. and be the head PTA mom, too. Let’s get real, ladies: Superwoman does not exist. One of the deadliest things you can do to your small business is to refuse to delegate or ask for help.

Early on, get yourself a cabinet of advisors. These are four or five people already invested in your success. The group should include an existing entrepreneur, a potential customer, a mentor, an accountant and a lawyer. Often these people are already around you, but they’re not aware of each other. They could be more effective if you got them together occasionally, and best of all, they will typically work (or at least advise) for food.

If you’re married–especially if you have kids–you might need a mother’s helper or au pair who can help with household stuff, personal errands and drop-off and pick-up for kids’ activities.

As women, we are more likely to listen to our inner voices; just make sure that you keep your self-talk positive. Do not start your day in a race. Try meditation or prayer. Cut yourself a break. Remember to be patient with yourself and your customers, and you’ll never go wrong.

This article was originally published at Open Forum.  ©2012 FedEx

What are your tips for helping women develop stronger business skills?

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is America’s #1 small business experts. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing to fulfill her mission to end small business failure. She writes a weekly column on social media for The New York Times. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

Join Melinda at The New York Times You’re the Boss Blog each Friday as she blogs on social media and small business. Today is the debut article on how Melinda Emerson became @SmallBizLady! Click the picture to see the article!

Dear SmallBizLady,

I am a Mompreneur working around the clock in my business and I feel like I am getting nowhere fast.  Can you help me?

Many of us running our small businesses are working hard, real hard. We are doing more with less and trying to figure out how to get it done smarter, cheaper and faster each day.  I ask, how long can you run at this pace?

If you have a family on top of your work responsibilities, it’s even tougher. You get to bed and wake up tired most days. My six-year-old son participates in swimming, little league and piano, and I run like the wind with my demanding profession as a small business expert on top of my mom duties.  It’s hard to feel like you are not in a race every day. There are two critical things that have helped me get my one-woman circus under control.  First, I do not believe in never ending to do lists. That always leads to feelings of overwhelm and guilt.  Who needs that? I focus on getting 5 things done before 11am each day. Second, every 90 days I take at least a 48-hour break from everything. You need rest to focus.  It’s May, have you scheduled a vacation yet?

Thomas Edison, best know as the inventor of the electric light bulb, used to take mini-retreats to read, meditate, and enjoy solitude. He considered it a strategic advantage in his business. What was the last thing you read that had nothing to do with work?  One of the perks of working hard is supposed to be that you can enjoy the fruits of your labor.  Think about the things you used to do when you had more time: fishing, gardening, hiking, golfing, jewelry making, etc. Make time to get back to doing a hobby you enjoy.

Do not get swallowed up in your work. Focus on getting more rest! It pays major dividends.

What are you going to do to get more rest?

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Liz Lynch @liz_lynch.  Liz is an international speaker, business development expert, and the author of Smart Networking: Attract a Following In Person & Online. She’s appeared on CNN, ABC News, Fox Business News, The New York Times, The Wall Street Journal, CNBC.com, Forbes.com and BusinessWeek.com, and works with professional service firms and successful small businesses to create strategies that get maximum clients with minimum effort. For more information on Liz and access to free articles and resources, visit http://smartnetworking.com.

SmallBizLady: You have a different approach to networking, so tell us what is “power networking”

Liz Lynch: To me, power networking is not about how much time you spend networking, but about the results you’re able to get. In other words, rather than inputs, it’s more about the outcomes. Is your network responsive? When you ask for help, do you get it? Are your contacts sending you great opportunities on a regular basis? Do you have the confidence to pursue any goal you want in your business — whether it’s to write a book, speak internationally, expand into other markets, etc. — because you know you’ll have access to the right people to make it happen?

You don’t have to network 24 hours a day to be a power networker, I sure don’t. Small business owners are busy. If you’re strategic about how you spend your time, the kinds of relationships you build, and the tools and strategies you use, you can get great results without a great deal of effort. And that’s really what I help my clients figure out. What exactly is the right mix of strategies and activities they should be implementing that would be most effective for them? What should they be doing and what should their teams be doing, because networking should be a part of everyone’s job in a company.

 
SmallBizLady: What are some of the biggest mistakes people make with networking?

Liz Lynch: There are 3 big misperceptions that drive people towards the wrong actions:

1. Misperception #1 “Networking is a numbers game” — Collecting lots of business cards at an event or sending mass emails in LinkedIn to grow your connections as quickly as possible is totally the wrong focus. Having someone’s contact information is not the same as having a relationship with them. And the only thing that counts in networking is the depth of the relationship you have with someone. Will they pick up the phone when you call? Are they willing to recommend you to others? If not, work on building that relationship or else throw that business card away because it’s not going to do you any good.
2. Misperception #2 “All I have to do is show up” — Despite what Woody Allen said that 80% of success is showing up, it’s the other 20% that’s going to make the real difference in your business success. Yes, you can have a profile on Twitter, and LinkedIn and have a Facebook business page, but if you aren’t using those sites correctly, you can be doing a lot of damage to your brand. Same thing with networking in person. You can go to an event, but if you spend the whole time on the sidelines, or glued to the people you already know, then you won’t get as much out of your time investment.
3. Misperception #3 “I can’t network effectively because I’m an introvert” — That’s totally wrong. You might network differently from your extroverted friends, but I assure you, you can be successful. I know because I’m an introvert too, and over the years, I’ve discovered so many of my colleagues whom I consider to be great networkers in terms of the results they generate, are introverts too. There are ways to increase your comfort level if you’re an introvert. You can start out with smaller events, or ask the host to introduce you to people you should meet. You can also try to connect with other attendees online first so that you will already know some people when you arrive. A lot of networking groups and event organizers use social media tools so you can see who’s coming and what their background is, and open up the lines of communicate before the event.

SmallBizLady: Given the popularity of social media, how important is showing up face-to-face these days?

Liz Lynch: It’s true that we’ve all have gotten a lot more comfortable doing business online and working with people whom we’ve never met. What I’ve found, however, is that face-to-face meetings speed up the progression of a relationship. It increases people’s desire to work with you, even if they have no idea what working with you would entail. When you have that chemistry and rapport from a face-to-face interaction, it’s easier for someone to think of you as the go-to person in your field, and to want to work with you or partner with you in some capacity.

One of the ways you can tell that face-to-face is still very relevant is by the number of social networking conferences there are all over the world. Even people who love to network online and are very comfortable doing so, still want to get together in person. And that’s a good thing because I believe the combination of both is extremely powerful.

SmallBizLady: What are some power tips for networking at events?

Liz Lynch: A big reason people don’t attend events is they feel awkward, they may be introverts and it’s hard for them to break into a crowd. Believe me, I’ve been there. The first networking event I ever attended, I lasted 5 minutes, so I definitely know the feeling of walking into a room full of strangers. So my power tip for them is to get to events early. Even 10-15 minutes before the event officially starts will make a big difference because at that point, there won’t be so many people in the room. It’s a lot easier to find someone to talk to, and before you know it, the event has built up around you and you’re at the center of things, rather than an outsider trying to break in. So that’s my power tip for introverts and anyone else who hates networking in person.

For everyone else, my biggest power tip is to pick the right events. Don’t go to an event just because it’s free or close to your office. Price and convenience shouldn’t be your criteria for attending events. Instead, find events where you’ll have a good chance of building the right relationships for your business, even if it costs you something, and even if you have to get on a plane to be there.

I’ve gone to conferences to meet one person. Someone I really wanted to partner with, but couldn’t get a hold of on the phone or by email. When I approached her at a conference where I knew she’d be speaking, we hit it off right away, and have worked together on numerous projects. I love conferences for networking because they tend to attract a high caliber of professionals, perhaps for the very reason that they do require a higher investment of time and money to attend.

 
SmallBizLady: What are the biggest pitfalls of online networking?

Liz Lynch: One of the biggest mistakes people make is not understanding that online networking is still networking, which means that there has to be two-way interaction. A lot of folks are stuck on one-way interaction, meaning they’re broadcasting out information, usually about themselves, but not engaging in conversations with their friends and followers. One of the things I look for on Twitter to determine whether I’ll follow someone is whether they talk to other people and share other resources, or posting links just to their own website and products.

It’s similar to if you went to a networking event and someone talked about themselves the whole time and never asked you a question. What would that say to you? It would give you the impression that they’re not that interested in you and all they want to do is get their message out. And if that were the case, how much do you think that person would be supportive of you and want to invest any time or effort in helping you advance your goals?

 
SmallBizLady: What are your recommendations for the best ways to use social media?

Liz Lynch: The good and the bad about social media is there aren’t any firm rules. You can choose how you want to use it, you can post whatever you want, you can connect, or not, with whomever you want. For example, some use LinkedIn to connect only with those they already know and some use it to expand their network and are willing to connect with everybody. Both approaches are totally valid depending on the goals of your business.

But just because there aren’t any firm rules, doesn’t meant there aren’t some best practices you should be following. If your intention is to use social media to build your business, there are 3 things you should spend your time doing, and everything else you should stop doing or minimize. If you’re killing hours of time playing games or watching videos of kittens, and then complaining that social media takes too much time and doesn’t work for you, you should re-evaluate what you’re doing.

The 3 ways you should be using social media are:

1. To build credibility: The majority of your posts should be intended to increase your reputation as an expert in your field. That means posting articles and resources your followers would find helpful. And it’s totally okay to share something personal every once in a while, that’s what adds dimension to your profile and helps people connect with you on other levels, especially if they share your same interest.
2. To keep in touch: Social media makes it easy to keep in touch with so many people in your network in just minutes a day. On Facebook, you can see which of your friends is having a birthday, and on LinkedIn you can see who just got promoted or changed jobs. And it takes seconds to say “happy birthday” or “congratulations” or to “like” a post. And when you do that, not only does the person you’re talking to see that, and they feel great that you’ve acknowledged them, but their friends and followers see that too.
3. To add value to others: Again, it takes seconds to share a link or retweet a post on social media, which means that in seconds, you can help someone in your network spread their message. No matter how busy they may be, you’ll show up on their radar screen in a very positive way because you’ve helped them. Every little touch point helps strengthen your relationship.

SmallBizLady: How do you manage your time on social media?

Liz Lynch: To prevent social media from being a complete time sink, you really need two things: discipline and productivity tools. With respect to discipline, it’s the same thing most people face with email. Every time management expert tells you to set aside specific blocks in your day to check and respond to email, and you have to discipline yourself not to check it every two minutes because you’ll never get anything done. You should do the same thing with social media. Don’t have Facebook and Twitter on in the background when you’re doing work, and turn off all of your notifications so you’re not interrupted with pop-up alerts that so-and-so is now following you, or invites you to like their page.

Productivity tools that aggregate your social media feeds like Hootsuite or a new service I recently heard of called Nutshell mail, is critical, so that when you are ready to switch over to social media time, everything is in one place for you to look at and respond to.

Decide that you will set aside specific blocks in your schedule to focus on social media for your business, 15 minutes before lunch or the last 30 minutes of the day, for example. Set a timer if you have to and then train yourself to scan for relevant posts to interact with. And when that time is up, move on. Social media will suck you in only if you let it.

SmallBizLady: How do you get people to accept your social networking invitations? How do you choose which ones to accept?

Liz Lynch: Everyone uses social media differently and you have to respect that. Some want to use Facebook only for personal reasons, to keep up with their family and close friends. If you’re not a family member or a close friend, obviously there’s nothing you can do about it. But, they may be more open to connecting with you on LinkedIn or Twitter.

When people send you invitations, it’s up to you to decide whether to accept them or not. And you don’t have to be apologetic or feel bad about it. I used to be very closed with my LinkedIn network, accepting invitations only from people I already knew because I wanted to be able to vouch for everybody in my network. But since Smart Networking came out, I’ve become more open because people have heard me speak at an event, or saw me on TV, or read an interview in a magazine and want to connect with me. If someone sends a personalized invitation, that’s always a big plus. One of my pet peeves is when people use the default LinkedIn invitation. Take the 20 seconds and go the extra mile to write a customized note.

If someone declines or ignores your invitation, it’s most likely because you haven’t given them enough context about who you are and why you would like to connect with them. If you answer those two questions when you send your LinkedIn invitation if the first place, you’ll get a higher acceptance rate than if you just relied on the default message.

 
SmallBizLady: How does follow up play a role in networking and what’s the best way to do it?

Liz Lynch: Follow up is crucial, and the big tip here is that you have to take the lead. When you meet someone at an event, you have to make an effort to continue building the relationship and take the next step. You can’t rely on them to do it, because chances are they’ll get pulled back into their crazy-busy everyday world and never follow up with you, even if they want to. So if you want something to happen, if you think there is potential to work together in some capacity, you have to propose the next step. Suggest a follow up conversation by phone.

One of the things I like to do is find an excuse to follow up. During the initial meeting, listen closely to the things they are saying and watch specifically for openings where you can provide assistance, like sending them an article or connecting them to a resource. And then do it.

You don’t have to follow up in the same way with everyone you meet. Obviously not everyone you speak with at an event is going to be a fit with you and your business. One of the easiest ways to follow up that doesn’t take too much time, but allows you to keep the doors open is to invite folks to connect with you on LinkedIn.

 
SmallBizLady: What if you follow up with someone and they don’t respond back?

Liz Lynch: There are lots of reasons people don’t take you up on your offer for a follow up meeting or phone call. They could be very busy or just might not see a compelling reason to take that next step at that particular moment. Fortunately, with social media, you can stay connected and stay on their radar screen in very unobtrusive ways until they are ready.

 
SmallBizLady: You say that every business owner should focus on building strategic partnerships with other business. Explain what you mean by that.

Liz Lynch: There are companies out there who serve the same target market as you do, but with different services, and finding ways to partner with them can open up big sources of highly qualified leads for you. Strategic partnerships help channel more customers into your business much more quickly and easily than trying to find every lead yourself, and it’s one of the key components I cover in my talk on “Lead Generation Leverage: 3 Keys to Getting Maximum Clients from Minimum Effort.”

Leads are the lifeblood of a business. You can’t have customers until you first get leads. Of course you need a good process for converting leads into customers, but if the leads don’t come in the first place, you’re in trouble.

But, companies won’t partner with you or send you leads out of the goodness of their heart. You need to fill a need they have, and you have to be somebody they know, like and trust enough to recommend to their clients because they’re putting their reputations on the line. Positioning yourself as an attractive strategic partner isn’t all that difficult, but I’ve found that business owners don’t focus on this, and it’s a huge missed opportunity.
SmallBizLady: Given everything we discussed here, what’s the #1 piece of advice you’d like everyone to take away from this interview?

Liz Lynch: One thing I discovered early on in my journey that I tell every audience is that networking is so much easier when people come to you. You always have to be proactive, but it’s also great when opportunities fall into your lap. You have to be visible and accessible AND, you have to be someone that people want to get to know, and work with and refer business to. Every single thing I teach about networking is striving towards that goal, and encompasses everything I talked about today: show up, interact, and add value.

 
If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. 

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Alexis Maybank @giltfounder Alexis cofounded Gilt Groupe with her best friend Alexandra Wilkis Wilson. Gilt Groupe took only four years to take the fashionista crowd by storm, transform online shopping, and attract five million members and earn a $1 billion valuation.  Previously, Alexis was an early member of the eBay team and launched eBay Canada and helped launch eBay motors; She has a B.A. from Harvard College and an MBA from Harvard Business School. She has appeared on CBS-TV, CNN and other networks. She and her cofounder recently authored BY INVITATION ONLY: How We Built Gilt and Changed the Way Millions Shop (Portfolio; 2012) www.giltfounders.com Alexis shares tales from her wild ride of launching a hyper-growth startup.

SmallBizLady: Gilt Groupe took both the fashion and e-commerce industries by storm with such a simple idea.  How did you do it?

Alexis Maybank: My partner and I were inspired by the popularity of New York’s designer sample sales, and we wanted to make this popular local pastime available online to customers throughout the US.  Gilt Groupe was designed to offer highly coveted fashion labels at insider prices to a passionate group of consumers. Today we’ve evolved to become a website selling diverse luxury lifestyle products to customers around the world.

SmallBizLady: In just 4 years you attracted 5 million members and a $1 billion valuation. What is it that sets Gilt Groupe apart?

Alexis Maybank: The most critical factor contributing to our success was its founding team. In addition, we enlisted the industry’s leading and most coveted brands to sell on our site, for the first time sought to curate the best of a season or collection and not feature everything, tapped cutting edge viral and social marketing techniques to scale the customer base quickly, and used leading site creative to cultivate a leading luxury brand online.

SmallBizLady: Common advice is to never go into business with friends or family, but you have turned that on its head.  How has it worked for you?

Alexis Maybank: In a startup, it is absolutely critical to be able to trust and rely on your co founders and/or team. If you are considering going into business with a friend or family member, you are likely to put a lot on the line. It is important to communicate. Lay out any potential issues or concerns on the table and talk about them in detail. We did this because people told us to have these discussions, but we were never all that concerned about working together. It is important to think about the context of your friendship. In our case, we were friends from business school, so we had seen each other’s work ethic and drive in action, and we were familiar with each other’s basic business acumen. Most important, we each had seen the other at our best and worst and knew we would not encounter any surprises as we hit the inevitable highs and lows any start-up faces as it grows. Our confidence and trust in each other was absolute.

SmallBizLady: You talk about relationships and execution being keys to your success. Why are these two factors so important?

Alexis Maybank: Relationships were absolutely critical to the success of Gilt. Our relationships with the fashion community were necessary in convincing brands to sell their wares on Gilt. Our relationships with friends were important because they helped to form our early base of members and customers of the site. Our relationships also enabled us to find and recruit top talent in all functional areas, from merchandising to marketing to operations technology and finance.  Execution is key; ideas are cheap.  We knew that we needed to execute our vision better than our competitors, and we started having competitors enter our industry very quickly.

SmallBizLady: Gilt Groupe’s success was largely built during the recession. What advice do you have for someone starting their business in this economy?

Alexis Maybank: There is no better time than now to pursue an idea you are deeply passionate about, and in fact there are many sources of financing available now to would-be-entrepreneurs. If you have an idea, here are some things that you might consider in determining if now is the right time to pursue it. First the idea should be easy for you to explain in one sentence to a friend or colleague.  Second, does this concept exist in any shape or form already? Why or why not? Take an honest look at the marketplace. Who else is out there? Has someone already tried this and failed–and if so, why? Have times changed? Sometimes an idea can be too ahead of its time and advanced for the market. Importantly, can you test your idea before overinvesting, just to make sure? These days the best way to make sure that the time is right for your idea is to get it out there and see what people think. Getting customer feedback from the start will help you build a better product, one that will maximize your investment.

SmallBizLady: In your book you discuss the value of naysayers especially early on in building the company.  Can you explain their value? 

Alexis Maybank: Don’t get discouraged by the people who tell you your idea will never work. Instead listen to them and see if you can apply any of their thinking into refining and improving your strategy. If you can anticipate pitfalls and those hard questions you will get from investors and partners alike in advance and more importantly be ready with great, well-thought-through answers, then you will be better equipped for the challenges ahead.

SmallBizLady: With the tech industry still being predominantly male, what are some of the unique challenges you faced getting started? 

Alexis Maybank: We launched a business initially targeting female customers; in fact we were precisely the target demographic. This was very clearly an advantage as we understood the consumer mindset better than anyone. Beyond that it can be more challenging raising money as a woman. Women led 28 percent of all U.S. businesses in 2002. Yet female entrepreneurs historically receive less of the invested dollars coming from venture capital firms, estimates are as little as four to nine percent.  So while this is clearly a challenge, keep in mind that as a female you are more likely to be a more memorable party pitching the partnership as there are not as many women to walk through there doors to begin with!

SmallBizLady: Entrepreneurs think that venture capitalists invest in ideas, but you argue they really invest in people.  So what makes them want to invest in someone? 

Alexis Maybank: Because there’s so little due diligence that can be done on most new start-ups, it’s natural that VCs concentrate most on the team involved. Many investors like to see a track record of success and will use this to guide them. Drive, ambition, leadership potential, integrity and the ability to motivate others are also important traits for an entrepreneur. You need to focus on the background and skill sets of the key team members in order to convince investors that you are the right team to back.

SmallBizLady: Growth is something all small business owners work towards, but growing too quickly can be detrimental.  How can this be avoided?

Alexis Maybank: There are two areas where you see companies suffer when growing too rapidly. The first is not anticipating the right type of people they will need to lead various teams or functions, hiring them too late or making the wrong choices in hiring.  Hire fast enough, but do not over-hire, and invest in recruiting the right talent so you do not have to rehire later, which is often a time consuming and sometimes costly mistake.  Second, if you grow too rapidly and are not investing enough in making sure your business infrastructure is strong enough then you can find yourself ground to a halt when the site crashes, the orders outpace what you can ship out in an acceptable time, or your accounting systems fail and lead to detrimental errors in expense reporting or others. Try to anticipate what could “break” next and get rigorous as a team in shifting focus fast enough to address these problems.

SmallBizLady: What advice can you offer for how to spot a trend that could reinvent an industry?

Alexis Maybank: There are no simple formulas here.  However if you are intimately familiar with an industry or a customer group, and you recognize a really tough problem that is universally faced or a so-called pain point that confronts all, and you have a pretty good solution that you could introduce or build better than the existing alternatives, then you are probably on to something important.  Some of these problems could have been left for dead or abandoned, and sometimes people need to just take a fresh look at them.

SmallBizLady: Can anyone transform a personal passion like shopping into a business?
Alexis Maybank: Not all personal passions should be transformed into a business, but if you think that your passion has a viable market, then explore it, and perhaps find someone who could join you in your venture. We believe doing a start-up with someone you trust is so much more rewarding and fun than going at a business alone.

SmallBizLady: What role should style play in a professional woman’s career?

Alexis Maybank: Style is important, not only in terms of looking well groomed and put together in a manner true to who you are as a person, but more importantly personal leadership style. In the book we discuss differences in leadership styles. Not every approach will work for every woman, but over time one can hone in on what feels natural and what is effective in reaching your goals and standing out amongst the crowd.  If you are true to your nature in presentation and style, then you feel most comfortable, and are inevitably at your most confident — the key ingredient to true style.

SmallBizLady: Gilt Groupe has since expanded beyond fashion with sister sites such as Jetsetter.com for travel and GiltCity.com for local deals and finds.  Was this always part of the plan?

Alexis Maybank: We have always been close to our customers. We both spend a lot of time with our members, listening to their perspective and ideas and responding to their feedback, as well as investing in regular customer research. Our members communicated clearly that they were not only interested in fashion and decorative items, but they lived or aspired to live a luxury lifestyle which included travel, local experiences, food and wine. We incorporated this feedback into our business and our offerings.

SmallBizLady: What are some tips you can share to help people maintain their corporate culture during major company growth?

Alexis Maybank: It is not always easy to maintain a corporate culture as a company grows, but it is important and is absolutely worth the investment. Establishing a vision and a mission and regularly communicating them to the employee base and to potential hires is important. Think about company culture when hiring. The cultural fit for a candidate is just as important, and sometimes even more important, than the candidate’s skill set.  The best way to select individuals who fit your company’s culture is to include employees in the hiring process who embody the culture and are really good at vetting for certain values in the hiring process.  Make sure they are involved in training new hires, too.  You can even do something as simple as hosting lunch or after-work cocktails.  No matter what however, the company’s culture will always be a reflection of the leader or leadership. So you must lead based on what you value culturally.  Any disconnect will lead to a shift, even if not intended.

SmallBizLady: What challenges is Gilt currently facing and what are you doing to overcome them?

Alexis Maybank: Our site has always centered on the excitement of fresh inventory daily at insider prices and our customers know we have selected the best of the best from a collection or a designer, so they don’t have to look at everything or spend hours shopping.  It’s a simple, fast and fun experience that revolutionized online shopping.  As we grow into more lifestyle categories and offer hundreds of sales weekly now, we must focus on keeping the shopping experience as exhilarating, speedy and entertaining. This means we have to invest heavily in anticipating what each customer wants to shop for when s/he visits our site.  People want to see the 15 sales best for them — not everything — and feel ‘wow, Gilt really knows me.’  Therefore we are investing in understanding people’s preferences and shopping patterns so that we can deliver the most personalized shopping experience on the web to each person and allow her / him to discover the right products quickly.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter.  Here’s how to participate in #Smallbizchat http://bit.ly/S797e 

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

I normally do this post at the top of the year, but I was inspired to wait until now.  With Easter upon us, I though this post would be particularly meaningful at this time of year.   My religious theme for 2012 is, “Either I win or I learn, but with God’s help I never lose.”

I pray that you are inspired by God’s word.  Your faith in yourself and your business are key to your long-term success. Starting a small business is a spiritual journey. You should pick a verse that will inspire you. I thought it would be helpful to share some of my favorites. Use these bible verses in the good and tough times in your small business.

1. Deuteronomy 8:18 NIV But remember the LORD your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your ancestors, as it is today.  All of our skills and special talents that we use in our businesses are all given to us by God.  He gives us the ability to make money and cut deals.  He did it for our parents and mentors and he does it for us too.
2. Romans 12:2 NIV Do not conform to the pattern of this world, but be transformed by the renewing of your mind. Then you will be able to test and approve what God’s will is–his good, pleasing and perfect will.  The bible commands us to be innovative in our businesses. We should not ever try to be like anyone else. The world is still waiting on a better mousetrap, and we should never rest on our successes. We must renew ourselves by being lifelong learners and reading constantly.
3. I Thessalonians 5:16-19 NIV Be joyful always; pray continually; give thanks in all circumstances; this is the will of God for your life.  It is important to have a prayerful life as an entrepreneur; it will help you on those days when things do not go your way.  You need to have the strength to thank God, even when you do not win that big contract. God protects us when we do not get opportunities that we think we can’t survive without. Always be grateful.
4. Proverbs 16:18 NIV Pride goes before destruction, a haughty spirit before a fall.  Many entrepreneurs struggle with pride. Do not be afraid to tell clients or employees that you do not know the answer. Try to diffuse any issues with truth and by taking full responsibility for fixing the problem.  Never let your ego get in the way of doing what’s in the best interest of your business.
5. II Corinthians 9:8 NIV And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work. God always delivers to us what we need in order to do our best work.  Sometimes he sends a check we need just in time, and other times he sends us creativity to find the best solution to our challenges. Trust in the Lord at all times.
6. II Timothy 1:7 NIV For the Spirit God gave us does not make us timid, but gives us power, love and self-discipline. Fear is the enemy of entrepreneurship. God wants us to go out with the power he gives us to pursue our ideas in business.
7. Hebrews 12:11 NIV No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it. You must be fiscally disciplined in business. You cannot put all your hard work at risk by not being focused on your big picture goals and your monthly sales goals. It is painful at times, but it will produce quite a harvest.
8. I Corinthians 9:24 NIV Do you not know that in a race all the runners run, but only one gets the prize? Run in such a way as to get the prize. Running a business is hard. It’s a marathon not a sprint. There will be plenty of stumbling blocks in your way. Everyone trips and falls while running this race, but winners get up faster than everyone else. You must do what you need to do to win your race.
9. Mark 5:36 NIV Overhearing what they said, Jesus told them, “Don’t be afraid; just believe.” There will be times when you are the only person who believes in your business dream. Don’t be afraid. Believe in yourself and your business idea.
10. Ecclesiastes 11:4 AMP He who observes the wind [and waits for all conditions to be favorable] will not sow, and he who regards the clouds will not reap. You must be willing to make decisions in your small business. No one is going to come along and do it for you.  Make hard decisions quickly, so you can move on to doing the work needed to help your customers.
11. Proverbs 11:14 NIRV Without the guidance of good leaders a nation falls. But many good advisers can save it. It is critical to have a kitchen cabinet of advisors for your small business. Your business will not survive on your experience alone. Pull together four to five people who are invested in your success. The group should include an existing entrepreneur, a customer, a mentor, a lawyer and a accountant. Seek out a mastermind group or peer to peer mentoring program to help as well.
12. Philippians 4:13 NKJV I can do all things through Christ who strengthens me. Whenever you struggle with your self-confidence read this bible verse to yourself.  There will be times in your business when you need to force yourself to stretch beyond what you think is possible. You can do it. I believe in you.

Do you have any other bible verses that inspire you? Please share.

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with @DinaDwyerOwens.  She’s the Chairwoman and CEO of The Dwyer Group www.dwyergroup.com over such well-known service brands as Mr. Rooter, Aire Serv Heating and Air Conditioning, and Glass Doctor. She is also a past chairwoman of the International Franchise Association in Washington D.C., the world’s largest advocacy group for franchising. She’s the author of Live R.I.C.H.: How to build success in your company and your life with a proven Code of Values. And many people now know her form her appearance earlier this year on the CBS hit reality show “Undercover Boss” where she went on the front lines of her business in search of her company’s Code of Values at work. For more information www.dinadwyerowens.com

Smallbizlady: What exactly is franchising?

Dina Dwyer-Owens: Franchising is a business strategy — a method of distributing products or services. The “franchisor” lends a trademark, trade name and business system. The “franchisee” pays an initial fee and ongoing royalty for the right to do business under the franchisor’s name and system.

Smallbizlady: Where do I start if I want to buy a franchise?

Dina Dwyer-Owens: The best place to start is by finding something that you’re passionate about — something that you can look forward to doing every day. That is true of any career. But it is even more powerful when you plan to be your own boss and invest in a franchise! There are over 825,000 franchise businesses across 300 business lines, so the key is identifying which franchise opportunity best fits you and your personal and professional desires.

1.  Visit www.franchise.org — the website for the International Franchise Associate to look at franchise opportunities.
2. Talk to existing franchise owners of concepts that interest you.
3. Request a Franchise Disclosure Document (FDD), a document required by law that details the franchise opportunity.

Smallbizlady: What does a franchise cost?

Dina Dwyer-Owens: Investment levels range from $5,000 to multi-millions. There are home-based businesses and then there are large retail opportunities. There is something for everyone and your ability to finance an opportunity will also help define the franchise that is right for you.

Smallbizlady: Am I more likely to succeed with a franchise?

Dina Dwyer-Owens: Franchising is not for everyone. And buying a franchise does not automatically guarantee business success. The system works IF you work the system. You should not expect to join a recognizable brand and sit back and expect the customers to find you. A good franchise owner is still proactive about marketing the business and following a system that has been proven and replicated across a successful brand. The most successful franchises still require hard work and dedication.

Smallbizlady: What are the biggest advantages of owning a franchised business versus being an independent business?

Dina Dwyer-Owens: There is a popular saying that franchising is about being in business for yourself, but not by yourself. The advantages to joining a franchise include: (1) buying power with vendors that command a better price for things needed to run your business, (2) national branding and name recognition, (3) support and training from your franchisor, (4) peer-to-peer networking to share best practices with others who know your business and are not your competitors, and more.

Smallbizlady: What are a few important things people should know about franchising?

Dina Dwyer-Owens: A franchisee is not completely independent. The franchisee will pay ongoing royalties and advertising fees to the franchisor for the rights to operate under that business.  The term of a franchise agreement is usually limited until that time that it comes up for renewal.  And, likewise, there is often a well-traveled exit strategy at a time that a franchisee wants to retire or desires to sell his or her business.

Smallbizlady: Are there special programs to help assist in purchasing a franchise?

Dina Dwyer-Owens: There are several. Two that come to mind are VetFran (which was started by The Dwyer Group) and MinorityFran. VetFran is now supported by the International Franchise Association and the US Department of Veterans Affairs and the Small Business Administration. Today, more than 450 franchisors offer military veterans their best financial discount on purchasing a franchise, and more than 2,100 franchises have been awarded through the program.

MinorityFran provides one convenient place where minority prospects can explore franchise opportunities from companies actively seeking minority franchisees. The program partners with Small Business Development Centers, Urban League chapters, and Minority Business Development Agencies among others.

Then there are also franchisors (like at The Dwyer Group) that assist in providing financing.

Smallbizlady: What are some of the latest trends in franchising?

Dina Dwyer-Owens: In today’s economy, it’s increasingly difficult to secure a loan for a small business — even for people with perfect credit. Yet small businesses in America are what have led our country through tough economic times again and again. As bank lending remains tight, franchisors and franchisees are working together to help people into business. At The Dwyer Group, we have always offered financing to qualified prospects. And there is a growing number of people across franchising who are taking advantage of programs like VetFran and other discounts, because together we are making the business world stronger.
Smallbizlady: You have coined the phrase “Live RICH” Can your define that?

Dina Dwyer-Owens: At The Dwyer Group, we operate our businesses with a Code of Values, based on the themes of Respect, Integrity, Customer Focus and Having Fun in the Process. That is what it means to Live RICH, and it’s at the heart of our corporate culture. I consider it a big reason why we are successful across our brands. We do not claim to be perfect, but our values provide us a roadmap to follow that allows us to do our very best. And I’ve written about it to share it with others in my book Live RICH.

Smallbizlady: You are the second generation in your family to run your company, in a male-dominated industry, no less. How do you do it?

Dina Dwyer-Owens: I surround myself with a great team, and each team member brings strengths to our organization that work together to create a great company and successful service brands. As for being a woman in my industry, I am also the target customer for our service brands. I am the woman of the house who hires our service brands in a majority of the jobs our franchisees perform. That is a wonderful perspective that we have embraced across our franchise family in putting “Customers First.” For the woman of the house, concerns go beyond just a service repair. There’s a branded van, a service professional in a clean uniform, booties worn in the house, a doormat with a logo and so much more that enhance the customer experience. Being a woman is a win-win in leading an organization that supports this level of service.

Smallbizlady: How did you define success in your 30s and How do you define it now?

Dina Dwyer-Owens: In my 30s it was about proving myself capable in the tasks of leadership. It was about attracting private equity and getting back to our roots in focusing on our core service brands. I traveled a lot. I was away from home a lot. But all the work by our team laid the foundation for an even stronger future. In my 40s, success is about growing our team and our brands to the next level with our next private equity partner. It’s championing what we know, which in fact has given me more time to prioritize. I still work hard, but I make more time for my family and my faith on a regular basis. I have more balance today, which I call a huge success.

Smallbizlady: If you could stand on a roof and shout small business advice to the audience below what would you say?

Dina Dwyer-Owens: Small business is empowering, and we need much more of it. Small business is the future. We’ve heard enough about the ills of Wall Street. Now it’s time to get back to Main Street and honor the men and women who are truly the backbone of our economy. More people want to be their own boss, want to determine their own destinies, want to create desirable workplaces and do things they are passionate about. Small business is championing those answers.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter.  Here’s how to participate in #Smallbizchat http://bit.ly/S797e 

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure.  As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)